Zurich-based Interprefy raised CHF 0.525m (USD 0.54m) over the summer, CEO Kim Ludvigsen told Slator. Interprefy is looking to muscle in on the market for simultaneous interpretation, replacing expensive onsite interpretation equipment with an app on participants’ smartphones, tablets, or computers.
The investment values the startup at CHF 4m, pre-money. The round closed at the end of July 2016. In early August, former CLS Communication CEO Matthias Trümpy joined Interprefy’s board of directors. Interprefy’s five full-time staff are supported by a “very active board,” Ludvigsen said.
The round was a private placement underwritten by two investment bankers from Zurich, who invested as private individuals, according to Ludvigsen. The investment will go toward improving and fine-tuning the platform, as well as accelerating business development.